Wakefit

Wakefit
TypePublic
BSE: 544642
NSE: WAKEFIT
IndustryHome and furnishings
FoundedMarch 2016 (2016-03)
FoundersAnkit Garg
Chaitanya Ramalingegowda
Headquarters
Bengaluru, Karnataka, India
Area served
India
Key peopleAnkit Garg (Chairperson, CEO & Executive Director)
Chaitanya Ramalingegowda (Executive Director)
Parul Gupta (CFO)
ProductsMattresses, furniture, furnishings and décor
RevenueIncrease ₹1,489 crore (US$150 million) (FY2026)
Increase ₹182 crore (US$19 million) (FY2026)
Increase ₹189 crore (US$20 million) (FY2026)
Websitewakefit.co

Wakefit Innovations Ltd is an Indian home and furnishings company headquartered in Bengaluru, Karnataka. Incorporated in 2016, it sells mattresses, furniture, and furnishing and décor products. The company was listed on the Bombay Stock Exchange and National Stock Exchange of India on 15 December 2025 following an IPO of ₹1,289 crore. For financial year 2026, the company reported revenues of ₹1,489 crore.

History

Wakefit was incorporated in March 2016 by Ankit Garg and Chaitanya Ramalingegowda as a direct-to-consumer mattress company. In the initial years, the company sold memory foam and orthopedic mattresses through its own website and third-party e-commerce platforms, without using retail distributors or intermediaries.

In December 2018, Wakefit raised a Series A round of approximately ₹65 crore (around US$9 million) from Sequoia Capital India.

During the COVID-19 pandemic in India, Wakefit entered the home furniture category, launching beds, sofas, wardrobes, and related home furniture.

In December 2020, Wakefit raised a Series B round of ₹185 crore (approximately US$25 million) led by Belgian consumer investment firm, Verlinvest [nl], and Sequoia Capital India.

In November 2021, Wakefit raised a Series C round of ₹200 crore (approximately US$28 million) led by Susquehanna International Group, with participation from Verlinvest and Sequoia Capital India.

Wakefit began opening company-owned, company-operated (COCO) retail stores in 2022. The company also commenced multi-brand outlet (MBO) operations in April 2022. In August 2022, Wakefit opened its largest manufacturing facility in Hosur, Tamil Nadu.

Wakefit conducted its IPO in December 2025, with a total issue size of ₹1,288.89 crore, comprising a fresh issue of ₹377.18 crore and an offer for sale (OFS) of 4,67,54,405 shares worth ₹911.7 crore. Shares were listed on the BSE and NSE on 15 December 2025. Ahead of the listing, the company raised ₹580 crore from anchor investors.

Operations

Wakefit's products span three categories: mattresses, wood and metal furniture, and home furnishings and décor. In FY2025, mattresses accounted for approximately 61.3% of revenues, furniture for 27.6%, and furnishings for 11%.

As of 2025, the company operates five manufacturing facilities: two in Bengaluru (chairs and steel bed fabrication; accessories such as pillows, comforters, and curtains), one in Sonipat, Haryana (mattresses and sofas), and two in Hosur, Tamil Nadu (engineered and solid wood furniture; mattresses).

The company had 139 company-owned, company-operated (COCO) retail stores across 76 cities in March 2026. The company's own distribution channels (website and COCO stores) contributed about 65% of its overall revenues in 2025.

Financials

YearFY2023FY2024FY2025FY2026
Revenue (₹ cr)8139861,2741,489
EBITDA (₹ cr)(93)3559182
Net income (₹ cr)(146)(15)35189

See also

References

  1. ↑ "Wakefit appoints Parul Gupta as Chief Financial Officer". Entrackr. 10 February 2026. Retrieved 31 August 2026.
  2. 1 2 3 "Investor Presentation" (PDF). Wakefit Innovations Limited. 22 May 2026. Retrieved 31 August 2026.
  3. 1 2 3 4 Wakefit Innovations Limited – Prime Research (PDF) (Report). HDFC Securities. 6 December 2025. Retrieved 31 August 2026.
  4. ↑ Wakefit Innovations – IPO Note (PDF) (Report). IDBI Capital. 3 December 2025. Retrieved 31 August 2026.
  5. 1 2 "Wakefit Innovations Reports 14% Revenue Growth To ₹343.6 Crore In Q4, Turns Profitable". Free Press Journal. Retrieved 31 August 2026.
  6. ↑ "How Wakefit has become product of Chaitanya Ramalingegowda's trust in consumers". Forbes. 18 December 2023. Retrieved 31 August 2026.
  7. ↑ "Wakefit gave legacy mattress players a back pain. But can it stay a disruptor?". Mint. 5 November 2024. Retrieved 31 August 2026.
  8. ↑ "Online mattress startup Wakefit leaves rivals sleepless, eyes $5 Mn in sales this FY". Entrackr. 16 January 2018. Retrieved 31 August 2026.
  9. ↑ Waraich, Simran (2020). "Wakefit: Disrupting the Indian Mattress Market" (PDF). Dogo Rangsang Research Journal. 10 (9): 121–130. ISSN 2347-7180.
  10. ↑ "Sequoia Capital invests $9 mn in mattress maker Wakefit". VCCircle. Retrieved 31 August 2026.
  11. 1 2 "Wakefit raises INR 185 Cr Series B at $258 Mn valuation". Inc42. 19 April 2021. Retrieved 31 August 2026.
  12. ↑ "Wakefit: Going beyond the bedroom". Forbes. 5 August 2020. Retrieved 31 August 2026.
  13. ↑ "Sleep Solutions Brand Wakefit On Waking Up To The Home Furniture Opportunity". Inc42. 22 September 2020. Retrieved 31 August 2026.
  14. ↑ "Verlinvest leads Series B funding in mattress maker Wakefit". VCCircle. Retrieved 31 August 2026.
  15. ↑ "Mattress maker Wakefit pockets Series C funding at $380 mn valuation". VCCircle. Retrieved 31 August 2026.
  16. 1 2 3 4 5 6 7 Wakefit Innovations Ltd – IPO Note (PDF) (Report). SBI Securities. 3 December 2025. Retrieved 31 August 2026.
  17. ↑ "Wakefit opens its largest manufacturing unit in Hosur". Mint. 23 August 2022. Retrieved 31 August 2026.
  18. ↑ "Wakefit enters Rs 1,000 crore revenue club, returns to Ebitda profitability". Business Standard. 30 September 2024. Retrieved 31 August 2026.
  19. 1 2 3 "Wakefit IPO Listing Today". India TV News. 15 December 2025. Retrieved 31 August 2026.
  20. ↑ "Wakefit flags margin pressure from input inflation, shares fall 7%". Mint. 22 May 2026. Retrieved 31 August 2026.
  21. ↑ "Wakefit belongs to a rare species". The Ken. 8 July 2025. Retrieved 31 August 2026.